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Welcome to another edition of 🔍 Startup Researcher - Africa, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌏️
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📰 Important News
- Kenya’s PesaLink partnered with the Pan-African Payment and Settlement System to facilitate instant, low-cost cross-border payments in local currencies.
- Flend became the first company to officially receive the Startup Label under Egypt's new National Startup Charter issued by MSMEDA.
- Yango and Flutterwave partnered to expand secure card payments for ride-hailing and food delivery services in Zambia.
- DICON and Terra Industries entered into a joint venture to support local production of high-tech military systems and reduce import dependency.
- Emirates and Cellulant partnered to offer payments in Kenya, letting travelers pay in instalments beyond mobile money limits.
💸 Top Funding Rounds
- Spiro raised $50 million in debt funding from Afreximbank, Nithio, and the Africa Go Green Fund to expand its battery-swapping network across Africa.
- Fido secured $5.5 million in debt funding from Symbiotics to expand its AI-driven lending platform in Ghana and Uganda.
- Eyone Medical landed $1.7 million from Senegal’s sovereign-backed Oyass Capital to support the digitization of the country’s healthcare system.
💰️ IPO and M&A Watch
- Egyptian logistics startup Bosta is exploring a potential IPO on the Egyptian Exchange, with CEO Mohamed Ezzat and lead investor Silicon Badia weighing the move for the company’s next phase.
🏦 About Investors
- Grene Capital completed a management buyout from Actis to become an independent Africa-focused real assets manager with $82 million in AUM.
- The African Development Bank and UNDP launched a $10 billion initiative to accelerate AI innovation and digital transformation across Africa.
- Swedfund invested $17.7 million in Gondwana to support African nature projects and scale climate solutions across the continent.
- GSMA launched a new global Innovation Fund to empower enterprises in developing nations that are using mobile technology to drive a green transition.
- Saudi-Egyptian venture capital firm EDAFA is planning to deploy $10 million in Egyptian startups in 2026.
🚀 Startup of the Week
Introducing our Startup of the Week 🏆
Spiro
Founded in 2022, Dubai-headquartered Spiro has quickly become one of Africa’s most compelling e-mobility players, pairing electric motorcycles with a fast-scaling battery-swapping and energy network built for commercial riders. This week, the company landed $50 million in debt financing from Afreximbank, Nithio, and the Africa Go Green Fund, building on a landmark $100 million raise in 2025 and adding fresh momentum to its next phase of growth. Under CEO Kaushik Burman, alongside CTO Yogesh Dipanker, Spiro is expanding across new and existing markets while advancing automated swaps, fast charging, and renewable integration, cementing its role as a backbone of Africa’s cleaner, locally built mobility ecosystem.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Grene Capital
Grene Capital entered a new chapter in 2026 after completing a management buyout from Actis. Based in Ikoyi, the firm oversaw approximately $82 million in assets, primarily backed by Nigerian pension funds, with landmark holdings including Jabi Lake Mall (Abuja) and Heritage Place (Lagos). Led by Managing Partner and CEO Funke Okubadejo, alongside senior executive Tolu Sokenu, Grene preserved leadership continuity through the transition. The spinout marked a defining strategic shift, positioning the firm as a focused conduit for long-term, inflation-hedged capital across Africa’s real estate ecosystem.
🤑 Opportunities Expiring Soon
THRIVE Studio Sprint
- 📢 Organizer: SVG Ventures | THRIVE
- 🗂️ Category: Incubator
- 🪜 Target Stages: Ideation, Pre-seed
- 🏭 Focus Sectors: Agriculture & Food
- 📅 Application Deadline: March 02, 2026
MassChallenge Switzerland 2026 Accelerator
- 📢 Organizer: MassChallenge Switzerland
- 🗂️ Category: Accelerator, Award/Prize, Competition/Challenge
- 🪜 Target Stages: Pre-seed
- 🏭 Focus Sectors: Sector Agnostic
- 📅 Application Deadline: March 04, 2026
World Wide Vibes Hackathon
- 📢 Organizer: GenAI Works
- 🗂️ Category: Hackathon, Training & Learning
- 🪜 Target Stages: Ideation
- 🏭 Focus Sectors: AI & Data, Infrastructure & Smart Cities, Social & Governance, Education & Workforce
- 📅 Application Deadline: March 07, 2026
Techstars Founder Catalyst WaterTech & Sustainability
- 📢 Organizer: Techstars
- 🗂️ Category: Accelerator
- 🪜 Target Stages: Ideation, Pre-seed, Seed
- 🏭 Focus Sectors: Energy & Environment
- 📅 Application Deadline: March 08, 2026
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